Norwegian Church Cardlff Bay
Charlty Numbw 1195926
Annual Rep¢rt & Flnanclal Ststements
For the perlod Endtd 31 MARCH 2024
isi Flu
￿￿. Brwk Roal
itctrvJrth
Cardrfl
CF14 1DU
Page I I

Nonwian Ojurch Ca¥DSff knv
Chartty Ilumber 1195926
Annual Repc*t & Statements of finar*cial ActS￿lieS
For the PEFEod Ended 31 MARCH 2024
Report of the trustees (including Strategic reportl for the year ending 31 March 2024
Chair's report
The trustees are pleased to p￿sent their annual trustees, Teport together with the financial
statement5 of the charity for the year ending 31 March 2024 whlch are also prepared to meet the
requirements for a trustees, report and accounts for Companies Act Purposes.
The financlal statements comply with the Charities Act 2011, the Companies Act 21J)6.
the Memorandum and Articles of Associath'on, and Accounting and Reporting by
Charities- Statement of Recommerided Prartice applicable to charities preparing their
accolrnts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021.
PaEe12

Nonvegian Churth Cardiff 8av
Charity Number 1195926
Annual Report & Financial Statements
For the period Ended 31 MARCH 2024
1st Floor
Brort Htyjse. Br(￿ RoaLt
Vvhitthurch
Cardrff
CF14 1DU
PagEII

No¥w￿lan ChuTth CaTdiff B
tharrty Number 1195926
Annual Report & 518tements ol ffnanoal Aciithes
Ftythe peiiod Er￿e￿ 31 MARCH 2024
Report of the trustees (including strdtegic report) for the year ending 31 March 2024
Chair's report
The trustees are pleased to present their annual trustees. report together with the financial
statements of the charity for the year ending 31 March 2024 which are also prepared to Fneet the
quirements for a trustees, report and acco￿￿t$ for Companies Art purposes.
The financial statements comply with the Charities Act 2011. the Companies Act 2006,
the Memorandum and Article5 of Association, and Accounting and Reporhng by
ChBrities- Statement of Reiommended Practice applicable to chartrie5 preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of ITeland IFRS 1021.
Page12

14orweglan thurth CaTtliff BJ
Charity Number 1195926
Annual Rewl & Statements of Finahtral Atiiv4be5
For the period Ended 31 MARCH 2024
Contents
Members of the Board and Professional Advi50r5
Trustees Annual Report
Governance and Public Benefit
Future Oevelopments
Statements of Financial Activities
Statement by Independent Examiner
Pa
Pè
e5-6
Pa
Pa
e8-13
e14-15
Page13

Nc*wtyan thurch Cardlff Bay
thavlty Nurnber 1195926
Annual Repwt & SlaLement5 of Finanual Acthiie5
For the pewiod Ended 31 MARCH 2024
l. Members of the Board and Professional Advisors
Members ofthe Board
Or. Marhn Rees-P¥ice Ichair)
Mr. Cato 5yversen
Mr. Mike Parkinson
Registered Address
Norwegian Church Centre
HarbDur Drive
Cardiff
CFIO 4PA
Telephone
029 2049 2261
Email
ianchurchcardiff.com
Web51te
wWW.no￿e
ianchurchcardiff.com
Legal Advisors
Geldards
4 Capital Quarter
Tyndall Street
Cardiff
CF104BZ
Bank
Barclays Bank
I Churchill Place
London
E14 5HP
Pa8e14

NM¥eEI￿ thurth Car(￿ff B3y
CharÈty Number 1195926
Annual Report & Statements of Ftsa*£ial Acifvities
For the perioJ Etyded 31 MARCH 2024
Norwegian Church Cardiff Bay
Trustees Annual Report April 1°. 2023. to 31 March 2024.
The Norwegian Church Card6ff Bay INCCBI was registered in 2021 as the successor charity to the
Norwegian Church Preservation Trust. The Norwegian Church Cardtrf Bay is a ￿Elstered as a
Charitable Incorporated O￿anisatiOn (charity number 11959261 and has a wholly owned trading
¢ompany- Norwegian Church Cardiff Bay Trading Limited registered with Companies House
(registration number 139049061.
As trustees we took responsibility for the Norwegian Church in March 2022 from Cardiff Council who
had been the sole trustee of the Preservation Trust_ The Church opened to the public in April 2022 50
the financial year ending 31 March 2024 marks our Second full year of operation.
The rationale for establishing the NCCB was to bring the Church back into community control and
establish the Church as a communsty, heritage. art5 and education centre a5 well as a venue in which
to celebrate the long-standing family. cultural and educational links between South Wales and
Norway.
The highlights of the FY 2023124 were=
Securing a three-year grant of £186k from thÈ National Lottery Herttage Fund following the
Successful completion of a one-year grant.
Obtaining Grade 11 listed building status from Cadw.
Certilication of the Church as a visf(or atttaction by Vi51t Wales_
An increase in the use of the building by local communrty groups as well as local and national
charities and busine5%e5.
The development of the Church as a niche music venye.
Well attended and high-profile ￿lebratiOnS of Norway'5 Conskntution Day117 May) and the
Festival of Light and Friendship110 December) in conjunctton with the Welsh Norwegian
Society.
Inteinal changes to our management of the krtchen and cafe which have reduced costs
rddicalty improved our food offer.
Following the SLEccessful implementation of a one-year herEtage project in 2022123 we obtained a
further three-year grant120231261 from the NLHF for our"Heritage Research and Outreach Project"
In applying from the grant. we received fantastic support from our'heritage" partners and local
supporters who provided u5 Wlth letters of siJPPOrt. Letters of support were obtained from: The
Welsh NOn￿e
ian Socie
The Ro
al CommissK)n for Ancsent and Historical Mor*uments in
Wales The Victorian Socie
Glamo
an Histo
SocÉÈt Vestland Coun
wansea Univer51t
Centre for Herit3
e Research and Trainin
Theatr The Ro
al Welsh Colle
eof Musicand
Drama and Creditsafe. ThÉs b￿adth of support emphasises the S￿nrf1cance of the Church to a wide
range of very different communitie5 and the success our first-year project lalso funded by the NLHFI.
This new, longer-term grant will enabled us to consolidate our heritage work ènd invest in
international, national and local OL¢treach programmes.
Pa8elS

tharity Number 1195926
Annual Report & SiBternept5 of Rnandal AtlT¥itre5
Forthe period Ended 31 MARCH 2024
We also sought anil obtained Grade 11 Itsting for the building from Cadw, the We15h Heritage
organisation, and obtained certtfication as a visttor attrattion from Visit Wale5.
The use of the church by local charities, schools. colleges and businesses as a meeting or exhibition
venue has continued to grow with a wide range of organisations making use of the church for over
200 exhibitions, half day and fijll day meetings and performances.
We are espetially pleased wtth the development of the church as an Fntirnate niche music venue,
larEely dLte to its wonderful setting and acou5tiC5. We hosted over 50 performances, ranging from
choirs, as well as highly respected folk, jazz, pop and rock groups. We worked wtth The Royal Welsh
College of Music and Drama to select our resldent ensemble. the Bute Wind Quintet who rehearsed
at7d performed regularly dL¥ring the year.
The church also hosted the celebration of NoTh¥3¢s Constitution Day 3nd Festival of Light and
Friendship, both organised by the Welsh Norwegian Society in conjunrtion with staff. These are
significant family and public event5 in Norway and both events Invo￿ed music, the piovision of
Norwegian food ènd drink. speeche5 from dignitaries from Cardiff and Vestland Counci15 and for
Constitution Day, ? colourful parade through Cardiff Bay. These events proved hsghly popular with
the public.
The year was financially challenging. The winter and early spring weather was extraordinarily wet
and this badly affertèd footfall for 34 months. As noted above. our initial start-up cost5 were
greater than anticipated and, as we We￿ unable to secure an energy SLSpplier when we took over
responsibility for the church Idue to th& volatilty of prices post covid and the start of the Ukraine
warl we subcontrarted energy supply from the Council ar¢d energy prices unexpertedly rose almost
three-fold in the financial year to over £24k as year which was also unexpetted. This created a
severe challenge to our budget and cash flow position. And while securing the NLHF grant was a
considerable achievement, a condition of the grant is that we are paid quarterly in arrears and so
must meet quarterly costs in advance. This added to the pressu￿ on our cash posttion which we
addressed through obtaining a loan from the Sustainable Investment Fund operated by Wales
Council for Voluntary Action for which we are grateful, and which we a￿ paying back on a monthly
basi5.
We are very mindful of our financial position and the trustees meet monthly to review finances and
have worked with management on cutting costs. improved marketing and developin8 innovative
income generating activities. These include a focus on maximtsing bookings for weddings, private
and corporate parties and investing in more community-based income generating actÈvities, all of
which are bearing fruit WFth forward bookings looking stronger from thi5 and next year. We are not
yet out of the woods, but we are well on the wav.
The charity has a wholly owned Trading svbsidièry, Norweglan Church Cardiff Bay Ltd, Company
Number I3904￿6. which runs the café and other commercial artivities. This had a turnover of
£255,51612023: 202,5321 and transferred £33,C4XJ to the chartty.
' Someof the proje£t'50Utcorne5 3re alread¥awd1￿b1¢ Onlinp. 5uth a50 3D bideo olthe Churth and a 3D SketchFèb model. whi¢h can be
View￿ uri LhE Ilnk5 TTrese W￿e[real& ￿[neR￿>￿Ic¢M[￿tsthOl HI￿￿[**andA￿￿eD1mD￿u[TrelltS In Wa￿ Tho NDrw
Chvfih Caidilf- Yr i
Idd Caerdvdy
tube.iom.
Page16

Charity Numljer 1195526
Annual Repryt & Statements of Fin3naal Activittes
For the pÈrrod Ended 31 MARCH 2024
The Tru5tee5 also wish to acknowledge the in-kind support from Creditsafe Ltd- website design and
search optimisation, HR and Finance advice.
2. Governance and Public Benefft
The Norwegian Church Cardiff Bay INCC81 was registered as a Charitable Incorporated
Organisation by the Chatity Commission for England and Wales on 27 September 2021.
The NCCB was registered using the model of constitution provided by the CCEW.
The three initial trustees were-.
Dr Martin Lionel Rees-price Ichairl appointe(l on the 27 January 2021-
Mr. Cato Syversen apFY)inted on the 27 September 2021-
Mr. Michael John Parkinson appointed on the 27 September 2021-
The constitution of the NCCB allows for the appointment ot up to nine trustees. The current
Board intends to recrutt new trustees with ex[￿rIenCe in arts. heritage. community
engagement. internats.onal links with Norway plus specialist financial and managerrent
experience.
Publi£ Benefit Ststement
The Norwegian Church Cardiff Bay's charitable objects are for the benelT"t5 of the general
publ*c and the publsc of Cardrff and South Wales. To furtherthis public benefit, the chartty
focuses on four main areas of charitable activity-.
Heritage- through research and educats.ng the public regarding the rich history of
the Church since 1868 and the contribution that trdde and links between Wales and
NoNiay have had on the social and economic developrnent of Soutl Wales..
Arts-through encouragÈng local artists and musicians to make use of the Church as
a rehearsal and performance venue and making those performances available to the
publtc,.
Promoting and hosting community aciivtties - working with local or8anisations, lin
particular, local schools) and hosting events to the benefit of other local charities and
community groups-
Promoting and encouraging stronger link5 between the people of Norway aF)d the
people of Wale5.
The trustees have complied with the duty in seclion 17151 of the Charities Act 2011 to have
due regards to public and benefit guidance published by the CCEW when exercising any
powers or duties to which the gui*Yance is relevant.
3. Future Developments
The trustees are engagèd in maintaining and furthering the current activity 35 it is proving to
be succe55ful and benefi.cial for the £ommunity.
Page17

NOTh¥e￿all thuich Cardllf Bay
Chaiity Number 1195926
Ammjal Report & Ststenjents of Kt)antial Acti%rybes
For the peric￿ f￿ded 31 MARCH 2024
4. Statemerrts of Financial Arttvitses
Income and expenditure account
Unrestricted Funds
R&tritted Fur*d%
Total
Funds
Total Funds
2023
Income and endowmentsfrL
Other revenue
37017
37017
582
Room hire
3942
3942
7284
Grant re￿iVed
38361
38361
57465
Donation5
1239
Totsl trncome
4095Y
38361
79320
66570
Eynditure on:
Raising funds
Charitable actlwties and administration
2391
20
4211
6511
42316
39404
81720
52845
Establishment C05t5
24933
24933
Total expendtture
69640
41224
110864
67809
Net 8ain511105sesl on Irwestments
Nei incomellexpenth"turel
-2863
-31
-1239
Transfer5 btheenlunL15
Other Tecogni5ed zainslllosse51."
Depreciation
Total irkwmellexpenditurel
829
829
99
-29510
-32373
-1339
Reconciliation olfvnds:
Total funds brought forward
Total fund5 (arried forward
.￿>j
-1339
-2863
-33712
PaEe18

Nm¥wan ChuTch Carthff B
Charity Number 1195926
Amual Repwt & StatemÈnts of finana31 ACtI￿￿e5
Forihe period Ended 31 MARCH 2024
2024
Balance
ZU23
Sheet
FIXED A55ETS
TBngible assets
TO￿ ￿￿ed a55ets
3,221
4051
3221
4051
CURRENf ASSETS
Debtors
6.054
10.765
Cash at bank aThJ in hand
29,078
24,493
Accrued Incorne
15.352
VAT
Prepawments
2938
T¢xal Currert Assets
38.196
CURRE￿ LIABIUTIES
Trade credttor5
Funds held in trust
26.498
2.451
8.882
Accn*als and deferred income
3.597
-2.959
8.666
VAT
Total Curyent knaknlitbes
30516
26.IXXI
39.315
NET A55Efs IUABILITIESI
-16.IZ6
16247
The Funds ofthe charity
RestrTcted income Funds
.2.863
-29510
3855
Unrestricted ir￿OMet￿n￿s
-5193
Retained unrestricted incomefijnds
16.247
17.585
TOTAL CHARITY FUNDS
-16.126
16247
Approved by thetrustees on
S￿￿ed on their behaff bv
Name..
&gn3ture
PaEe19

orwe8itin thurth Car(fjff Bay
afity Number 1195926
Annual Rewt & StatemeTrls of ￿n￿n0a1 Acti¥ryknes
For the period ETr7ded 31 MARCH 2024
Notes tothe accounts:
ha￿$ of pr￿ratiOrs of the fin￿0a1 statements
The financial siaternent5 have been prepared undert1￿ histoncal cot ccMWEntion and are In atcordance with
trust Saw, applitable 3¢countin6 standards. the Charibe5 SDRP IFRS1021 Isecono edthcn-october 20191 and the
Charitie5 Act 2011.
Fund accounttrtE
al Unre5triaed frJnds.' Unre51Tiued lunds are gen￿￿1 fvnds that are available for use of the trustee's discretion
in furtherante of any of the objertive of the d13rttv.
bl Designated funds: Desi4nètedfunds are genetèl fiJnd5 set asideat the discretion of the twstees*or 5pecilic
purpose5_
cl Restrirted fisnds- Restrlrted funds arethose donated for use in a partictslar ale8 fDra 5p2cific purpose. There
are no re5trirted funds. and all funds are unre5tiicted.
dl TaTrgibte assets DepreriatioD: Tanwble a55ets and Depreciation are rneasured at C05t le55 accumulated
depreciJbon Depreciatian Is provided at rates calculated to write off the tost of the fixed assets, lesstheir
ethmated residual values, over their expetted u5elul live5.
Asset category
Plant and Machinery
el Trustee Remulle￿I0n= trustee re￿iVed ￿M￿nEratio￿. expenses or financially through a related party,
Cato Ssversen. one of NCCB'5 trustee is Chief Exeiutive of Creditsafe, a cotTrpany regi51ered with Companies
House and the trustees received prD bono support from Marketing and FinancÈ staff employed by Creditsafe
during the reporting penDd. Cato s￿elSen did not benefit financially from these transattiQns nofees or
other linan¢i¥l advantage We￿ pfowded *oradvice and SupryJrt received.
Related PartyTraTrsactioms'. thetnjstees have enabled a café and room hiretradingfrorn rhe p￿MiseS by
Nopwegian Church Cardilf BayTrading Ltd. &nce the Norwegian Churth Cardlff BayTrading LILI does not hav
8 baDk account to operate from, the Nofwegiah Church Cardiff Ray chanty ha5 agreed tc> hold any rnonie5 in
trust for the NOrWe￿aft Church Cardiff Bay Trdding itd. The funds held in trvst at 3110312023 atnounted to
£8,881.65 lincluding ift the bèlance 5b.eet a5 parr of the Iiabilthesl. P40 trustees have benefited frorn
remuneration t>r transactions between th- NCCB and the Norwegian Churth Cardiff 8ay Trading Ltd. orfrorn
rernuneration ortrar&3Ctions from the Norbveglan Church Cardiff Bay Trading Ltd. It a150 ha5 been ag￿ed
that the Norwegian Church Cardiff Bay TradinÉ Ltd will do[￿te part orthe totslity Df their profrts to NCC8 at
the end of theirlinancidl year.
gl 51aff.. Staff employed by NorwewaTrChufch Cardiff 8tyTtadin8 Ltd aTe a150 working at trmesfor the NCCB
charty Bnd li has beeTr a8Feed thatthe NOr￿e￿an Church Cardiff Bay TTrding Ltd would irNoice the NCCB
charrty 8t C05t forthe wages ￿ld tothÈir ernployee5 when theyare workin8 forthe NCCB charity. A
pertentage of the gross salary, employers Nl and employers. pension arè shown as costs inthe chèrityto
refiert the work tompleted by ￿rtain staff membprs on the chatity's activitie>
Comparative tnfomiaknon byfund
nnual rate
Rwrirted
Unrestritted Restricted
2024
2024
2023
2023
Ir>tome and endowmentsfrcth:
Other Revenue
37(th)
582
Room Hire
3,710
7284
40,no
7.866
Grant ReceNed
Architertural Heritsge Fund
Lottery Grant
N*ional Heritsge
Waterloo Fuund*ion
15352
23009
25864
WCVA
11601
Total
38361
31,601
25*64
Pa8e 110

NLYweglan CfvuTth Carthft Bay
Charity Number 1195926
Annual Report & Statements Finaniial Artrwtres
Forthe peTiod Ended 31 MARCH 2024
D￿3150￿5
Just Giving
Small donations
io
239
1177
Total
249
1.239
Total Incarne
40.959
38.361
40,7[
25.864
U￿estr￿¢ted ResiriLted Unrestriaed Re#ritted
2024
2023
2023
Resources expended
fvnds
A(Svertising
Di8ital collection p￿te
Bank Feesjust GivinE
Visual interpretation
2062
2989
327
150
47Q
180
1,820
254
5280
Total
1392
1.231
5,280
thariiable activltles and administration
Salaries and sts*f costs
31,694
30.962
24.266
15549
Travel and subsistence
1713
1436
839
Hotel
470
341
Mgtorexpen5e5
Printin8, POSta8e. and Stationery
Telephone
Accountsncyfres
Staff training
Legal Fees
Bank charge5
Insurance
32
78
27
21
23
1078
1,069
103
17
asss
Subscription5
General expenses ard sundries
1998
791
3,SIKJ
2741
3804
Total
42,314
36,318
36,116
16,729
E5tabfishment Costs
Light and heat
Repairs and rna*ntenance
eaning
Rates
10.171
5,542
565
1.256
4224
632
8.656
2341
Total
24.934
8.453
Page 111

Norwwan thurth Cardlff B•f
Cbar5ty Number 1195926
Annual Repul & Stalernents of ￿nanCial Actiirylies
Fcr the period £nded 31 MAROI 2024
Other ie
ns
10s5es
Depreciation
Total
830
Total expen5e5
70.470
41,226
45%99 22,009
Net kncc•ne/lexpendituref*ythe yearl
This is statÈd aftercharprg..
2024
Depreciation
Accountancy semces
830
583
3,011
Total
3.011
Note5 tothe accounts It￿11￿￿ed
T￿sible￿Xed8ssets-(harity
Plant and
Mathinery
Co
AE at l April 2023
Adrfitions
4.149
4,149
A5 at 31 Marth 2024
4.149
4.149
Depreaation
As at l April 2023
Chargè for theyear
As at 31 March 2024
830
99
929
Paae 112

NThegiaTr thurth Carthff B
Charty Number 1195926
Annual Repwt & Statements of finanoal Acti¥fjt6es
Forthe perioo Ended 31 MARCH 2024
Net book value
A5 at 31 March 2024
3.220
3,220
As at 31 March 2023
4,050
2024
2023
Oebtor5
054
10,765
2,938
Prepayments
Accrued Income
15.352
VAT
Tot•S
21,406
13.703
C•sh * bank and In hand
2024
2023
Current account
29,078
24.493
Petty &sh
T￿•1
29.078
24.493
Credkw5.' amountsfallln8 duewithkn lyear
2023
Trade Credltors
Funds held in tru#
Accruals
26,498
3,381)
3,597
-2,959
2.451
8.882
8.666
6,001
VAT
Tth•l
30,516
26WI
Pa8È113

P4cfwwan card1￿83¥
Charity Nvmber 1195926
mual Rep(xt & 5tatemeiits of finanual AcLiIry15es
For the perÈod Ended 31 MARCH ZU24
5. Statement By Inde￿ndent Examiner
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's report
on the accounts
Section A
Independent Examinerfs Report
Report to the tntsteesl
members of
NoThvegian Church Cardiff Bay
On accounts for the year
ended
31st March 2024
Charity no
lif any)
1195926
Set out on pages
I report to the tfustees on rny examination of the a¢counts of the above
Charty {Yhe Trusf) for the year ended 3110312023.
Responslbllltles and As the charty twstees, you are responsible for the preparation of the
basis of report accounts in accordance with the Charfties Act 2011 ('the Acr).
I report in respect of my examination of the Trust's accounts carried out
under seclion 145 of the 2011 Act and in carrying out my examination, I have
followed all the applicable Directions given by the Charity Commission under
sertion 14515llb} of the Act.
Independent I have completed my examination. I confim that no material matters have
axamlner's statement come lo my attention in connection wrth the examination which gives me
cause lo believe that in, any material respect,
the accounting records V￿re kept In accordance with section 130 of
the Act.. or
the accounts did not accord with the accounting records., or
the accounts did not compty with the applicable requirements
concerning the fonn and conlent of accounts set out in the Charities
{Account5 and Reports) Regulats'ons 2008 other than any requirement
that the 8ccounts grve a 'true and fair view which is not a matter
considered as part of an independent examination.
I have no concems and have come across no other matters in connection
wrth the examinalion lo which attention should be drawn in this report in order
to enable a proper understanding of the accoLEnts to be reached.
Signed:
Date:
2310112025
Name:
MIKE TANN
P3ge114

Ncrfwezian Ch￿r(h CardtitBay
Ch3r¢ty Nurnber 1195926
Annual Report & Statements ol fittanaal Actl¥ilie5
Forthe period Ended 31 MARCH 2014
Relevant professlonal
quallficationlsl or body
(If any):
ACCA
Address:
Ltewellyns Ltd
1" Floor, Brook House, Brook Road
Whilchurch, Cardtff. CF14 1DU
Page115